Alacer Gold Corp. (AQG AU), which has operations in
Australia and Turkey, dropped 4 percent to A$8.95 after
Citigroup Inc. cut its rating on the stock to “neutral” from
“buy.”

General mining stocks: The London Metal Exchange Index of
prices for six metals, including copper and aluminum, rose 2.4
percent yesterday. Copper fell 0.6 percent in LME screen trade
today. Australia’s Bureau of Meteorology also reported that
tropical Cyclone Iggy will strengthen to a category three storm
and bring strong wind and rain to the Pilbara iron-ore and
offshore petroleum region on the west coast.

Rio Tinto Group (RIO AU) rose to its highest level in more
than two months, climbing 2.1 percent to A$69.78. The world’s
third-largest mining company said it may seek to replace senior
management of Ivanhoe Mines Ltd. Rio moved this week to increase
its stake in the Vancouver-based business, which operates the
Oyu Tolgoi copper-gold project in Mongolia, to 51 percent.

ResMed Inc. (RMD AU) climbed 7.5 percent to A$2.73, making
it the fourth-best performer in the benchmark, after the maker
of medical devices to treat sleep disorders reported record
second-quarter earnings.

OneSteel Ltd. (OST AU) was the worst performer in the
S&P/ASX 200, falling 6.6 percent to 78 Australian cents, after
after Nippon Steel Corp., Japan’s largest steelmaker, posted its
first loss in three quarters and said it was curbing Asian
exports. BlueScope Steel Ltd. (BSL AU), Australia’s largest
steelmaker, dropped 6.1 percent to 38.5 Australian cents.

Woodside Petroleum Ltd. (WPL AU) rose 1.5 percent to
A$34.48 after the company said it had interest from potential
buyers in part of its 50 percent stake in the Browse natural gas
project.